The New York Times has reported that Twitter owner Elon Musk has halted paying rent on the company’s offices.
According to insider sources, Musk has told employees to avoid paying vendors while also denying severance for the thousands of employees let go at the beginning of his reign.
These efforts all seem to be working towards making Twitter more profitable and slashing costs, a commitment he has made since prior to the takeover.
Musk also shook up the company’s legal team, firing Twitter’s chief legal officer, parting ways with his own personal lawyer and disbanding its trust and safety council that aimed to keep the platform safe.
Refusing to pay rent may be the tip of the iceberg for the billionaire. For building owners in 2022 and in the near future, tenants refusing to pay rent is immediate grounds for a lawsuit in an era where real estate has struggled to stay afloat during and post-pandemic.
